XEN UPDATED OutlookRecently the I received some messages and comments regarding the price action of xen from an individual that appears to have bought the top around .000009.
Unfortunately this was the level we and many others we indicating it was wise to take profit. Currently this investment would be down massively and serves as good reminder why to never buy the pump unless prepare to use a stop loss and ok with it getting hit.
Xen may be a bullish project, have a lot of support, and poised for much higher prices but it is still a LOW LIQUIDITY ASSET.
Low liquidity means a few big sellers or a few big buyers can move the price significantly and unless you are in for the short term, watching the order books dilegently, and prepared to sell at a moments notice low liquidity is not for day trading. Apeing into low liqudity projects AFTER they pump is silly and irresponsible.
With that said IT HAPPENS and personally I am guilty of the same mistake as FOMO of a serious price rise has a drastic effect on the way we think and feel. XEN has this potential and buying the top MAY have actually worked but still never a wise decision. Always better to rotate capital into something else that hasn't pumped yet then fomo in AFTER massive upside.
If you have found your self in this position there are option.
Option 1: If more funds are available begin to dollar cost average as the price continues to decline to lower your entry cost.(Peronally I would take this option EVERY TIME if possible)
Option 2: DO NOTHING and hope that project moves forward as projected and sell at much higher profits for mad gains. (If no funds availble to DCA and lower entry cost I would do this on a project like xen)
Option 3: Sell for a massive loss (Personally I would never take this option unless the project and community completely feel apart)
The formula is simple buy in the red and sell in the green.
The updated chart is using our typical modeling method of identifying the curvature of the percentage change using a log scale and using 15degree increments to map out high probability price levels and time periods based off of the recent price action
There are a lot offake WD Gann guru's that pretend to understand his methods but ALWAYS indicate you need to discover the last step yourself. This is simply because they don't understand it and are stuck looking for some pie in the sky fake price prediction method that ALWAYS WORKS PERFECT.
The method used on this chart is the same as how gann used the square of 144. He simply was an EXCELLENT trader and was mapping the momentum of the buying and selling rate on the chart. By hand one could take past price values and time periods and using the square of 144 map out how the same rates would lead to possible future values IF NOTHING CHANGED.
Trade levels and time cycles accordingly. We are currently but SLOWLY DCA'ing back into xen and yes may brake the low but don't expect it.
